Silk Road forums
Market => Rumor mill => Topic started by: hoodlamb on March 18, 2012, 01:22 am
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this will be my first post on the forums, hello to all that read this :) great to be here, wish my first post was under happier conditions ;)
on the 13th i bought a listing for 1oz of his ak47. he then told me it was not actually available this was an order someone else cancelled. it would another couple of days until he has more. so i waited and then messaged him yesterday(16th) to see how much longer, then today he told me it would be another 3-6 days! Today i had to camel the order because i can't afford to have my coin tide up for that long waiting for product he had listed.
the listing cost me 82.98BTC valued at $423 + postage I only got 77.14BTC back. at current market prices = $402.354526. Even at the weighted AVG rate(higher than last prices just now) which SR uses i only get $410.1927214. What gives, I'm like 5.8BTC out of pocket or around $15-$25.
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I oredered from one of "Silkroads most reputable vendors" and I am waiting on day 11 for my product. 3 days and my message is still unread. At least you can cancel.
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this will be my first post on the forums, hello to all that read this :) great to be here, wish my first post was under happier conditions ;)
on the 13th i bought a listing for 1oz of his ak47. he then told me it was not actually available this was an order someone else cancelled. it would another couple of days until he has more. so i waited and then messaged him yesterday(16th) to see how much longer, then today he told me it would be another 3-6 days! Today i had to camel the order because i can't afford to have my coin tide up for that long waiting for product he had listed.
the listing cost me 82.98BTC valued at $423 + postage I only got 77.14BTC back. at current market prices = $402.354526. Even at the weighted AVG rate(higher than last prices just now) which SR uses i only get $410.1927214. What gives, I'm like 5.8BTC out of pocket or around $15-$25.
Who cares? Dude if you can't afford to lose $25, maybe you shouldn't be wasting your money on recreational drugs?
Spend some time looking for work so this doesn't matter so much...
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I oredered from one of "Silkroads most reputable vendors" and I am waiting on day 11 for my product. 3 days and my message is still unread. At least you can cancel.
It's the weekend... is 3 days really too long to wait for a response??
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ProfADaemon I work hard for my $ so i don't like just seeing $20 turn into nothing, one minute i had $425, now i only have $400 and i didn't get the order i wanted.
The vendor says because his orders are hendged i should get the exact amount back. I contacted SR support and they said When hedging and unhedging the price used is not the last price on the market, but rather the best price available at the time of hedging and unhedging. So typically you will lose the difference between the highest bid price and the lowest ask price even if the last price remains unchanged.
~SR Support
So how is it fair i loose $20 because OnestopShop listed a product he did not have and would not have for around 9 days! I have asked him to refund my $20 i have lost due to his mistake, no reply yet.
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I oredered from one of "Silkroads most reputable vendors" and I am waiting on day 11 for my product. 3 days and my message is still unread. At least you can cancel.
If your order is not marked as in "transit" you should be able to cancel after four days. Not all Vendors work the weekends.
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ProfADaemon I work hard for my $ so i don't like just seeing $20 turn into nothing, one minute i had $425, now i only have $400 and i didn't get the order i wanted.
That is the downside to working with vendors who only accept bitcoins as payment... bitcoins fluctuate in value. It's possible for them to drop in value by a large amount just in the few minutes between when you bought them and when they show up as being transferred into your Silk Road account, if you happen to buy them seconds before a sharp drop in prices begins someday. It's not the vendor's or Silk Road's fault really.
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But BTC prices have increased - on the refund slip i got for SR it says i got 417(77.14btc) back but i paid 425(82.98BTC), at the time i got the refund it is only actually worth 402 and prices have not dropped since the supposed 417 refund was issued. so i am $15 down from what SR says i should have got, or i am $23 down from what i orignally paid.
all cause a vendor does not have his shit together and has product listed he does not actually have
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But BTC prices have increased - on the refund slip i got for SR it says i got 417(77.14btc) back but i paid 425(82.98BTC), at the time i got the refund it is only actually worth 402 and prices have not dropped since the supposed 417 refund was issued. so i am $15 down from what SR says i should have got, or i am $23 down from what i orignally paid.
all cause a vendor does not have his shit together and has product listed he does not actually have
The guys got a good point.
He is being rational without targeting a vendor. (edit, ok he did target the vendor, newbie mistake)
How about explain why a buyer looses when the price of BTC went up?
SR finds every reason I know to grab a few coins from me.
The prices are always under inflated til check out.
To be honest I try not to hold to many BTC a one time.
Unless you are Warweed and can predict the BTC price ;)
Somebody explain this crap to me, cause I think he has a good point.
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whole point in hedging is you dont lose money and you dont make money. your bitcoins are turned into say USD upon ordering which costs 1% to do, after your order its turned back in to BTC which costs another 1% transaction fee. i would think thats why he has taken a slight loss. i remember SR saying it costs 1% each change. does this add up?
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god I wish I was a nerdy code-writing fucker. I would have been rich.
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whole point in hedging is you dont lose money and you dont make money. your bitcoins are turned into say USD upon ordering which costs 1% to do, after your order its turned back in to BTC which costs another 1% transaction fee. i would think thats why he has taken a slight loss. i remember SR saying it costs 1% each change. does this add up?
The 1% could be why on the refund slip it said 417 instead of 423 paid. when i canceled the order i received 77.14BTC back which according to RS = $417. I was at my computer when i canceled the order and at the last price on mtgox this = $402. Even working it out using the weighted AVG which i thought SR used, i only got $410 back. So depending how you look at it, I am $7 down from what SR says i should have got back using weighted AVG, or $15 using last price or i am $23 down from what i originally paid. All i got was my BTC tied up in escrow because a vendor said it would be a few days for my order, then when i contacted him on 4th day he told me it would be another 3-6 days, so i cancelled only to find i loose money!! what a great 5 days of waiting for meds! i just want to take the BTC back out which is already going to cost me money and buy something locally whihc i can have in a few hours probably. I'll get even less £ when cashing it back out now!
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Thanks for explanation!
Such is the life of BTC, the biggest pain in the ass on SR.
Double edge sword, protects me, and cuts me at the same time.
Hoodlamb don't let it get you down. Learn, and try again.
Nothing better to waking up, and finding the price dropped in half.
I never woke up to it doubling :'(